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American Software Raises Bid for Logility

Stock quotes in this article: LGTY , AMSWA  

Logility(LGTY Quote) shares are soaring on Monday on the heels of American Software's(AMSWA Quote) increase of its offer to purchase the company.

Shares skyrocketed 35% to $6.94 in afternoon trading, after American Software said it will offer $7.02 a share for all of the outstanding shares of Logility. This is a 40.4% premium over its closing price on March 18.

American Software previously offered $5.10 a share. Currently American Software owns 88% stake in Logility. ...

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